4H market sentiment trading

I post a journal for purpose of keeping track of my thoughts, hoping to see other's opinion on my spotted setups and directions of trading.

I also have my blog here:

http://fx-sniper.blogspot.com/

and I tweet my posts here:

http://twitter.com/Krysztau

If you like you can join me on skype to coment and discuss trading ideas [especially around London open] - search for krysztauek.


I watch every 4 hour candle, my charts are timed in GMT-2, so I will post

6:00; 10:00; 14:00; 18:00; 22:00

London time.

I consider myself as a experienced trader currently working on my patience and awareness of repetitively apearing setups [so don't rush, not now, then tomorrow, or day after].

I'm a great fan of James16 thread, however I enter my trades off 1M charts.
_______


Currently I look to carefully short USDCAD [carefully because of important resistance @89.50 CADJPY]

I also wait to enter long AUDUSD on some pullback and expect it to be medium term trade.

That's it for now
Chris

USDCAD I shorted this pair once, but closed for 10 pips loss as price action did not convinced me, reopened on the secod approach to 1.0286 level, and currently I took away partial profit, and wait for further run. Currently SL 10 points above entry, and wait to hit 1.0250 to take other part and move SL to BE.

apart of this trade i see UJ with it's very narrow range seems to reverse a bit. It's not a tradable thing, but good indicator in case of hesitation between USD and JPY crosses.

You can follow me on twitter and watch my blog.

Chris

I forgot to update my sentiment, they are all on my blog. Here's update:


EJ - turn down? If driven by JPY crosses - I will leave it, if by EUR itself, may be sign of massive move down [but not much hope for that anyway, at least this would be something worth trading]

CADJPY - there is significant rising potential, but I would not trade it on simple breakout, rather on some retracement, confluence with price action on other correlated crosses or whatsoever.

AUDUSD - my favourite puppy made it quite nicely, however I was targeting for longer move. For now I'm that certain that this pair will turn back on 0.8666, that I closed 3/4 of my position earlier, last quarter I will hold as my plan was to leave small part for 400 pips profit. I left quite wide SL on that and wait for re-entry possibilities.

Twit me, or visit my blog if you like

Nothing overnight, still extremaly focused on longing AUDUSD.

GU - is aiming big on my 4H candle, but move was so fast that it became suspicious. Such a momentum needs some rest, so it's very likely that some minor reversal will occure on its way further up...

EU - also a big mover, can be watched for confirmation of GU

GJ may turn out nicely too.

see my blog or twitter

I didn't posted recently as nothing enough interesting to trade.
If you want to see all posts check my blog
http://fx-sniper.blogspot.com/

Trading plan for this morning:

gold - I don't feel familiar enough to real trade it, but I'll wach what would happened if shorted below 1243

EU - long above 1.2412, nice targets: 1.2452; 1.2483; 1.2519]

since 18-06-2010 till today that is 06-07-2010 [2 weeks and 2 trading days] not a single good enough 4H setup occurred.

I did traded a bit [obviously pain in the ass was inevitable ]...

Finally everything turned back in my favour, and here some chort summary [you can read it on my blog

or contact "krysztauek" on Skype what would be even nicer [I started small trading chatroom, you're all welcome]


GU if asian session won't bring anything new, tomorrow I wait for break of 1.52.

EU 1.2671 is a key level that if retested tomorrow will also break [for 50 pips or more]

EJ shows some signs of gains. I think one or two days more and some great setups will start to pop up here and there...

AUDUSD - clear OB up on daily, I like it a lot. But this is a tricky trade. There is a key resistance level @ 0.8577. I would trade this pair only if it react off this level and than slowly advance further. 0.8570 - 0.86 is a perfect TP1, than I would leave it to go maybe even to 0.87, just with adjusting SL here and there with final target @ 0.9.
to sum up, It's a 100% setup if and only if 0.8577 [or 0.86 will react first [at least 20].


Gold further fall ensures me in my risk appetite strategy [at the end of the day it's all just a psychology and traders biases...]

And DJI outside bar up on top of it...

GU nice short setup
GJ very good short setup

Hi Krysztau,
your thoughts would be much easier to follow if you'd post some charts with them. most of all I felt attracted by your obvious inclination to the art of aikido . btw, I'm short on gu, too.
Greetings by a fellow aikidoka

You've got the point there, I think I will thou, but with some latency, as I write on the spot and don't have that much time to play with my printscreens at the time, but later I can do it.
Big thanks for suggestion!

And of course aikido rules [i was practising for a 6 months, but as soon as I will settle down I will go back to training, maybe from this September.

I wrote this today morning on my blog
http://fx-sniper.blogspot.com/:

I see on 4H some initial correction on USD crosses without following of JPY counterparts. That's good, as may produce few signals later today or tomorrow.

On a daily GU now is breaking it's range I mentioned last week


On a weekly DOW regained losses from previous week, therefore formed 2weeks pinbar. Same situation on AUDUSD.

I see also weekly pinbar up on Gold, but I wouldn't trade it as I'd rather expect gold to fall.


In other words, there is nothing to trade right now, but i see some potential for setups to form later today or tomorrow.


P.S.
Will add charts later

I like three pairs buy setups:
GU, EJ and AU

AU and GU are my old friends in betting long [two weeks of friendship is a long in this case)]


I added pictures to my blog entry:
http://fx-sniper.blogspot.com/2010/0...528-gmt-1.html

I will maybe add it here as well.

there is pretty nice reversal pattern on JPY crosses that generate three short signals:
UJ, EJ and CADJPY.
for european session I se EJ the most tradable, but all of them ha nice clear view below marked entry levels

I placed pictures on my blog here:
http://fx-sniper.blogspot.com/2010/0...725-gmt-1.html

I see nothing that interesting to trade, however I can see clearly rise on XXXJPY pairs, what may indicate BoJ intervention. I won't call any setup for now, but on UJ I see very clear possibility of 1-2-3 setup on intraday TF around 87 level. If 1M setup will be clear enough I will trade.
no picture this time, just look 4H charts for yourself
If you like instant update, follow me on twitter, or subscribe to my blog RSS.

Nice GU short setup i see...
http://fx-sniper.blogspot.com/

http://fx-sniper.blogspot.com/
GJ short setup

mini-Dow AU and GU possible long
[too lazy for a charts ]
http://fx-sniper.blogspot.com/